Wed Sep 18 11:07:00 UTC 2024: ## Thoroughbred Financial Services Boosts Investment in First Horizon Co.
**MEMPHIS, TN – September 18, 2024** – Thoroughbred Financial Services LLC has increased its stake in First Horizon Co. (NYSE: FHN) by 11.8% during the second quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission. The institutional investor now owns 13,941 shares of the financial services provider, valued at $219,000.
This move comes amidst a flurry of activity from other institutional investors in FHN. Rise Advisors LLC, Raleigh Capital Management Inc., Fidelis Capital Partners LLC, and Family Firm Inc. all acquired new positions in First Horizon during recent quarters. Fortitude Family Office LLC also significantly increased its holdings by 129.3% during the first quarter. Overall, 80.28% of First Horizon’s stock is currently owned by hedge funds and other institutional investors.
First Horizon has also been the subject of several research analyst reports in recent months. Royal Bank of Canada, Keefe, Bruyette & Woods, Jefferies Financial Group, Barclays, and Raymond James have all issued ratings and price targets for the company. Overall, analysts have a “Moderate Buy” consensus rating for FHN with an average target price of $17.38.
First Horizon’s stock opened at $15.78 on Wednesday. The company has a market capitalization of $8.63 billion and a price-to-earnings ratio of 11.03.
Despite missing analyst expectations for earnings per share in the second quarter, First Horizon reported revenue of $1.28 billion and announced a quarterly dividend of $0.15 per share, payable on October 1st.
First Horizon Corporation operates as the bank holding company for First Horizon Bank, providing a range of financial services to consumers, businesses, financial institutions, and governments.
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